Aluminium and Aluminium Products company Vedanta announced Q1FY26 results Consolidated Revenue at Rs 37,434 crore, up 6% YoY. Highest ever first quarter EBITDA at Rs 10,746 crore, up 5% YoY. EBITDA margin (ex-Copper) at 35%, up 81 bps YoY – highest in the last 13 quarters. Adjusted PAT jumps 13% YoY to Rs 5,000 crore; PAT at Rs 4,457 crore. Strong double-digit Return on Capital Employed at 25%, improved by 87 bps YoY. With capex spent of Rs 5,155 crore and consolidated dividend payout of Rs 4280 crore, the Net Debt stands at Rs 58,220 crore, implying Net debt/ EBITDA ratio of 1.3x. Credit Rating reaffirmed at AA by both CRISIL and ICRA. Generated Rs 3,028 crore from 1.6% stake sale in HZL; Liquidity improved 7% QoQ and 33% YoY with Cash and Cash Equivalent of Rs 22,137 crore. Anil Agarwal, Chairman, Vedanta, said: “Our 1Q performance has set a strong foundation for the year ahead. Amidst global market volatility, we delivered the highest-ever first quarter EBITDA. Operationally, we achieved the lowest hot metal cost (ex-Alumina) in the last 16 quarters, lowest-ever 1Q Zinc India CoP, 74% YoY increase in Gamsberg's production, 33% QoQ surge in power sales, and 150% QoQ jump in Ferro Chrome volumes. The ramp-up of the Lanjigarh refinery to 587kt demonstrates our progress towards delivering over 3 million ton of Alumina in FY26. Looking ahead, the commissioning of Train II at Lanjigarh, 435kt smelter capacity at Balco and 1300 MW of new thermal power capacity, all in 2Q, will enable us to deliver our full-year guidance. The start of operations at our Sijimali bauxite mine and Kuraloi coal mine in H2 is likely to boost our performance to a record high.” Ajay Goel, CFO, Vedanta, said: “This quarter, we achieved the highest- ever first quarter EBITDA of Rs 10,746 crore, reflecting 5% YoY growth. The EBITDA margin expanded by 81bps to 35%, which is the highest in last 13 quarters. Our adjusted PAT grew 13% YoY to ~ Rs 5,000 crore. This strong performance alongside corporate initiatives, such as the HZL stake sale which generated Rs 3028 crore cash, has enabled Vedanta to deliver a Net Debt to EBITDA ratio of 1.3x. Given our NCD issuance of Rs 5000 crore and other refinancing, the cost of our debt has reduced by around 130bps YoY to 9.2%. The recent reaffirmation in credit rating at AA by both Crisil and ICRA highlights our financial strength and market’ confidence in Vedanta’s growth story.” Result PDF